UPDATE: Nomura Reiterates on Signet Jewelers Ltd. Following Acquisition of ZLC
In a report published Monday, Nomura analyst Simeon Siegel reiterated a Buy rating on Signet Jewelers Ltd. (NYSE: SIG), and raised the price target from $85.00 to $115.00.
In the report, Nomura noted, “SIG's acquisition of ZLC propels the company to an even greater position of dominance within the low- to mid-tier market. In this report, we outline our pro forma EPS expectations, digging into EBIT & NOL benefits & the ensuing interest expense. Despite questions regarding store-saturation, the deal should drive meaningful accretion ($10+ of EPS in 3rd year post merger) and as such, reit our Buy rating despite the meaningful run (shares are +34% over the past 6 months vs the S&P500 +9%).”
Signet Jewelers Ltd. closed on Friday at $94.34.
Latest Ratings for SIG
|Nov 2014||Deutsche Bank||Maintains||Buy|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.